Learn how to use subaccounts in QuickBooks Point of Sale.
It’s important to understand how items in Point of Sale are mapped to different accounts in QuickBooks Desktop. This will help you better understand how each setting differs from each other and how it affects the item mapping.
Enable “Automatically create subaccounts” setting
- Go to the File menu. Select Preferences, then Company.
- From the left menu, select the Financial dropdown, then Accounts.
Note: There may be a slight delay as Point of Sale is connecting to your financial software.
- Go to the Basic tab.
- Select the checkbox Automatically create subaccounts based on, then from the dropdown, choose from the following:
- Department - A subaccount is created for each department attached to the items.
- Store, then Department - A subaccount for each store creates additional subaccounts for each department attached to the items. This is only for multi-store.
- Department, then store - A subaccount is created for both the department and store. This is only for multi-store.
- In the Use subaccounts for list, you can select whether Income Account only or Income, Cost of Goods Sold, and Asset to use subaccounts with all three account types.
- Select Save.
When this has been set up, the default account will now include subaccounts as specified. Also, the item form in inventory will indicate your settings under QuickBooks Options from the item details. Just note that the actual subaccount names are not shown due to space constraints.